Farther Finance Advisors LLC Raises Position in Lyft, Inc. $LYFT

Farther Finance Advisors LLC grew its holdings in shares of Lyft, Inc. (NASDAQ:LYFT) by 908.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,643 shares of the ride-sharing company’s stock after purchasing an additional 6,885 shares during the period. Farther Finance Advisors LLC’s holdings in Lyft were worth $120,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Neuberger Berman Group LLC raised its stake in Lyft by 3.7% in the 1st quarter. Neuberger Berman Group LLC now owns 24,441 shares of the ride-sharing company’s stock worth $290,000 after acquiring an additional 868 shares during the last quarter. Amalgamated Bank raised its stake in shares of Lyft by 4.0% during the 1st quarter. Amalgamated Bank now owns 23,344 shares of the ride-sharing company’s stock valued at $277,000 after buying an additional 892 shares during the last quarter. Creative Financial Designs Inc. ADV raised its stake in shares of Lyft by 11.3% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 9,025 shares of the ride-sharing company’s stock valued at $107,000 after buying an additional 914 shares during the last quarter. Parallel Advisors LLC raised its stake in shares of Lyft by 39.4% during the 2nd quarter. Parallel Advisors LLC now owns 4,107 shares of the ride-sharing company’s stock valued at $65,000 after buying an additional 1,160 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its stake in shares of Lyft by 162.6% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,943 shares of the ride-sharing company’s stock valued at $31,000 after buying an additional 1,203 shares during the last quarter. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Lyft Stock Down 2.7%

LYFT stock opened at $21.99 on Friday. The firm has a market cap of $8.94 billion, a PE ratio of 91.63, a PEG ratio of 3.54 and a beta of 2.40. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.70 and a current ratio of 0.70. The firm’s 50 day moving average price is $17.60 and its 200-day moving average price is $15.24. Lyft, Inc. has a one year low of $9.66 and a one year high of $23.50.

Lyft (NASDAQ:LYFT) last announced its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.17). The firm had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Lyft had a net margin of 1.51% and a return on equity of 14.32%. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.24 EPS. On average, equities research analysts anticipate that Lyft, Inc. will post 0.22 EPS for the current year.

Insider Buying and Selling

In related news, CFO Erin Brewer sold 15,000 shares of the business’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $15.24, for a total transaction of $228,600.00. Following the completion of the transaction, the chief financial officer owned 540,759 shares in the company, valued at approximately $8,241,167.16. The trade was a 2.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO John David Risher bought 5,926 shares of Lyft stock in a transaction dated Wednesday, September 3rd. The stock was acquired at an average cost of $16.88 per share, with a total value of $100,030.88. Following the completion of the acquisition, the chief executive officer directly owned 11,797,266 shares of the company’s stock, valued at approximately $199,137,850.08. The trade was a 0.05% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 74,427 shares of company stock worth $1,252,686. Corporate insiders own 3.07% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on LYFT shares. BMO Capital Markets lifted their price objective on Lyft from $16.00 to $20.00 and gave the company a “market perform” rating in a research note on Thursday, September 18th. Sanford C. Bernstein raised their target price on Lyft from $16.00 to $18.00 and gave the company a “market perform” rating in a research report on Monday, July 21st. Citigroup restated a “hold” rating and set a $14.00 target price (down from $22.00) on shares of Lyft in a research report on Friday, June 27th. TD Cowen raised their target price on Lyft from $22.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Finally, Bank of America raised their target price on Lyft from $12.00 to $14.00 and gave the company an “underperform” rating in a research report on Thursday, September 18th. Ten equities research analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $19.02.

Lyft Company Profile

Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. It operates multimodal transportation networks that offer access to various transportation options through the Lyft platform and mobile-based applications. The company's platform provides a ridesharing marketplace, which connects drivers with riders; Express Drive, a car rental program for drivers; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips.